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AGG

SPY

UDN

UUP

The U.S. dollar experienced a decline in November, with the dollar index (DXY) falling 3.1% as markets anticipated the Federal Reserve might start cutting rates in early 2024. Despite a slight comeback in the last two days of November, analysts expect the dollar's rally to be short-lived due to high rate cut optimism and equity market gains. The S&P 500 index rose 8.9% in November, and the SPDR S&P 500 ETF (SPY) gained 9.1%. The Invesco DB USD Index Bullish Fund ETF (UUP) fell 2.5%, while the Invesco DB US Dollar Index Bearish Fund (UDN) rose 3.3%. The iShares Core U.S. Aggregate Bond ETF (AGG) gained 4.3% as U.S. government bond prices increased and yields retreated from 16-year highs.

Portfolio Pulse from Neil Dennis

December 01, 2023 | 3:27 pm

FRHC

Freedom Holding Corp. has been approved to implement a strategic plan to enter the telecommunications market in Kazakhstan, aiming to expand its business operations.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 3:20 pm

JAZZ

Jazz Pharmaceuticals (NASDAQ:JAZZ) will present data from nine abstracts at the 2023 American Epilepsy Society Annual Meeting, emphasizing its commitment to treatment-resistant epilepsy. The presentations will include real-world outcomes of Epidiolex (cannabidiol) in treatment-resistant focal epilepsies and data on caregiver-reported outcomes in patients with tuberous sclerosis complex (TSC) prescribed Epidiolex. The data suggests sustained reduction in focal-onset seizures and improvements in cognition, emotional functioning, and communication in patients. The Expanded Access Program (EAP) and GWPCARE6 Open-Label Extension (OLE) trial results will also be shared.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 2:09 pm

SCLX

Scilex Holding Company (NASDAQ:SCLX) reported significant growth in both gross and net sales for November 2023 and year-to-date through November 30, 2023. ZTlido, their non-opioid pain management product, showed gross sales between $14.0 million to $15.0 million for November, with a projected annual growth of 46% to 56%. Net sales for November ranged from $3.9 million to $4.5 million, indicating a potential annual increase of 16% to 32%. Overall, the company's total product gross and net sales also exhibited substantial growth compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 2:01 pm

TM

Toyota Motor Corp (NYSE: TM) is partially suspending production at its Tianjin plant in China due to slowing sales and intense competition in the Chinese automobile market. The company is adjusting production to match the declining demand for gasoline-engine cars. Toyota's global sales, including the Lexus brand, have been solid except for China, which accounts for nearly 20% of its sales. The top three bestselling models in China were all electric vehicles, indicating a shift in consumer preference.

Portfolio Pulse from Shivani Kumaresan

December 01, 2023 | 1:46 pm

ULTA

Ulta Beauty's stock is trading higher following the announcement of Q3 sales that surpassed expectations. Additionally, the company has updated its guidance for the fiscal year 2023, which has likely contributed to the positive investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:41 pm

IDAI

Trust Stamp (NASDAQ:IDAI) reports that 40 financial institutions are now integrating its AI-Powered Orchestration Platform, with 18 new institutions starting since January 2023. The platform is designed to combat fraud while protecting customer data and privacy. Trust Stamp's President, Andrew Gowasack, expresses optimism for the company's growth and anticipates significant revenue from long-term usage starting in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:31 pm

WGS

GeneDx (NASDAQ:WGS) announced new data supporting exome sequencing over multi-gene panels for epilepsy diagnosis, to be presented at the AES annual meeting. The study of 22,500 individuals showed a 25% diagnosis rate with exome sequencing, higher than the 19% with multi-gene panels. 78% of those diagnosed had prior testing, indicating exome sequencing's superior diagnostic ability. Over half of seizure-related genes are not on many epilepsy panels. 11% of positive diagnoses from exome sequencing involved treatment-related genes. GeneDx will also present data on better insurance coverage for exome sequencing. The NSGC and AES recommend exome sequencing as a first-tier test for unexplained epilepsy. GeneDx will host a symposium at the conference discussing the benefits of exome sequencing for epilepsy patients.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:31 pm

LGND

Palvella Therapeutics and Ligand Pharmaceuticals (NASDAQ:LGND) have expanded their strategic partnership to accelerate Phase 3 development of QTORIN rapamycin for Microcystic Lymphatic Malformations (Microcystic LMs). Palvella received a $5 million upfront payment from Ligand, which also increased its tiered royalty on worldwide sales of QTORIN rapamycin to 8.0–9.8%. Ligand has an option to acquire a single-digit royalty on future topical products from Palvella's QTORIN platform. QTORIN rapamycin has potential to be the first FDA-approved therapy for Microcystic LMs, with over 30,000 diagnosed patients in the U.S. The FDA granted Breakthrough Therapy Designation to the drug in November 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:23 pm

IOT

Samsara Inc (NYSE:IOT) shares surged approximately 14% after reporting Q3 FY24 results with significant year-over-year growth. Revenue increased by 40% to $237.5 million, surpassing the consensus estimate of $224.7 million. The company's Annual Recurring Revenue (ARR) grew by 39% to $1.003 billion, and the number of customers with ARR over $100,000 increased by 49%. Non-GAAP gross margin improved to 75%, and operating margin turned positive to 5% compared to a loss a year ago. Non-GAAP EPS was $0.04, beating the $0.01 consensus. Adjusted free cash flow was reported at $8.5 million, with cash and cash equivalents at $208.1 million. Samsara raised its FY24 revenue outlook to $918 million – $920 million and non-GAAP EPS to $0.05 – $0.06, both above consensus estimates. IOT shares traded higher at $31.30 in premarket.

Portfolio Pulse from Lekha Gupta

December 01, 2023 | 1:13 pm